D-Day and the Battle Against the Mortgage Industry

My father served in WWII. He landed on the beaches of Normandy, D-Day plus 12. He was a member of the demolition and engineering section of his Division. A corporal who volunteered when he was rejected by the Air Force for a special officer’s training program because of his poor vision. He leapfrogged the infantry as they fought battles and rebuilt bridges or manufactured new ones from rafts over the rivers of eastern France, carrying men and tanks to Germany. The war ended for him when his leg was destroyed in an explosion caused by a German 88 mm shell exploding near him on a make shift bride over the Roer River. I walked in his footsteps years later, feeling the sounds of the battle, smelling the residue of the fear left behind.

It may soon be D-Day for banks and mortgage lenders. They are being challenged as never before. The challenge is righteous. They have terrorized the everyday citizen, even the helpless and defenseless, without mercy. What more can be done by the ordinary home owner to combat the onslaught of the Bank Reich?

The battle being fought today in courts across the land involves the traditional method for recording mortgages and mortgage assignments vs. the new age method: MERS. The banks will tell you they loaned you the money, you don’t need to know who they sold the note you signed to [yes-your notes are sold like bikes on e-bay for money between banks]. They separate the note from the mortgage as it suits them, for their convenience. They also ignore the basic maxim that the first to RECORD the mortgage in the register of deeds is the first in line to assert a right to the security-the property. This means the first to record is the first in right to foreclose and the first to the proceeds of any mortgage foreclosure sale. Why, if your brother or sister were to loan you money to keep you afloat and you gave them a mortgage and recorded it before the bank, well the bank could be second in line behind your brother or sister.

No one really wants mortgages clogging up the title to their homes. But, if the banks are not going to follow the rules, consider taking the battle to the banks. A MERS mortgage may well lose out to a properly recorded mortgage between you and someone else who loans you money. Many people have been forced to borrow from family and friends to feed the money lust of the banks. Why not use a mortgage to storm the beaches instead of waiting for the Bank Reich to take what is yours? Consider it a bridge over the river of injustice.

Disclaimer- We cannot provide legal advice by blog posts and to people who are not our clients. This and all of our other posts are for general information purposes only. The laws in each state vary widely and recording practices sometimes vary even by county.

We try to walk the fine line between providing false hope and giving a boost to those who have no hope.

If you are facing foreclosure, you do have options. Speak to a competent lawyer well versed in foreclosure defense. Actually, shop around and speak to several. (Be careful of the ones who claim they have the magic bullet that works in every case.)

The fraud lawyers at Mahany & Ertl generally do not defend individual homeowners. We do, however, represent homeowners that wish to sue lenders and servicers for egregious or illegal conduct. Our philosophy is a bit different than the main stream – we believe that the best defense is often a good offense and that means turning the tables on lenders and making them the defendants.

If you believe that you have a good claim against a lender, give us a call. For more information, contact attorney Anthony Dietz at *protected email*.Need immediate assistance, contact attorney Brian Mahany at (414) 704-6731 (direct). All inquiries are kept in strict confidence.